XRP/ U.S. Dollar (XRPUSD) Elliott Wave Analysis – TradingLounge Daily Chart,
XRPUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((B))
Next Higher Degree Direction: Wave IV
Invalidation Level: N/A
XRPUSD Daily Chart Analysis and Strategy
XRP/USD is currently showing signs of a short-term rebound. Based on the Elliott Wave count, this move appears to be part of wave b within a corrective pattern. If this wave count holds, a decline forming wave c could follow soon. The overall structure suggests the market is in a wave (II) corrective phase.
- Wave a finalized at 1.768
- Wave b remains in progress, with a major resistance zone near 3.389
- If XRP fails to break this resistance and reverses, wave c could move the price toward the key support at 1.533
Trading Strategy – XRP/USD (Daily)
- ✅ Swing Trading Setup (Short-Term Focus)
Traders may consider short positions if XRP fails to sustain above the 2.90 – 3.39 resistance zone. Downside targets are between 1.53 – 1.60.
Risk Management Insight
A strong breakout above 3.389 may invalidate the current wave (II) structure and signal the beginning of wave (III), requiring a reassessment of the analysis.
XRP/ U.S. Dollar (XRPUSD) Elliott Wave Analysis – TradingLounge H4 Chart,
XRPUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave ((B))
Next Higher Degree Direction: Wave IV
Invalidation Level: N/A
XRPUSD H4 Chart Analysis and Strategy
XRP's short-term price action shows signs of a potential recovery, likely forming wave b within a larger corrective phase. The Elliott Wave structure points to a possible decline in wave c, aligning with the broader wave (II) correction.
- Wave a completed at 1.768
- Wave b is ongoing with resistance near 3.389
- If reversal occurs at resistance, wave c could move toward key support at 1.533
Trading Strategy – XRP/USD (H4)
- ✅ Short-Term Swing Trade Opportunity
If price action is rejected within the 2.90 – 3.39 range, short positions may be considered, targeting the 1.53 – 1.60 level.
Risk Management Insight
A confirmed break above 3.389 may signal the end of wave (II) and the beginning of an impulsive wave (III), indicating a need to revise the current wave structure.
Technical Analyst: Kittiampon Somboonsod
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